Powell says Fed is insulated from U.S. political pressure
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NEW YORK (Reuters) - Federal Reserve Chairman Jerome Powell on Tuesday said the U.S. central bank is "insulated from short-term political pressures," as policymakers faced new calls by President Donald Trump to cut interest rates."The Fed is insulated from short-term political pressures -what is often referred to as our 'independence,'" Powell said in remarks prepared for delivery at the Council on Foreign Relations. "Congress chose to insulate the Fed this way because it had seen the damage..